Thadeus Geodfrey and finance are inseparable. He is a versatile expert with a strong cryptocurrency and market analysis background. Thadeus provides a unique blend of technical and strategic insights as a seasoned financial writer. His overarching probe and attention to detail inspire the InvestingGuide community. He guides you through the continuously evolving market landscape to build solid investments or make successful trades.
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I consider Axi one of the best brokers in the UK, and rightfully so. I extensively researched and tested the platform, and several aspects truly impressed me. For starters, it’s authorised and regulated by the UK’s Financial Conduct Authority (FCA), Firm Reference Number 466201. It’s also licensed and registered by many other authorities, including the Financial Services Authority (FSA), the Australian Securities & Investments Commission (ASIC), and the Dubai Financial Services Authority.
In This Guide
Moreover, the Axi trading platform caters to a wide range of traders. The broker has no strict minimum funding requirement, which enables it to embrace everyone, including cost-conscious and low-budget individuals. I was also able to enjoy superior support, free transactions, and uncapped access to powerful platforms like MT4. The most noteworthy downside I encountered is the broker’s asset collection, which, at 140+ instruments, is extremely limited compared to what I’m used to.
Here’s an overview of my findings:
Axi
✔FCA-regulated broker
✔24/7 customer support
| Feature | Details |
|---|---|
| Regulations | FCA (UK), DFSA (Dubai), ASIC (Australia), FSA (St. Vincent and the Grenadines), CySEC (Cyprus) |
| Supported Languages | English, Spanish, Arabic, Portuguese, German, Spanish, Polish, Bahasa Indonesia, French, Chinese, and more |
| Assets | Forex, shares, IPOs, indices, commodities |
| Min Deposit | £5 |
| Trading Platforms | Copy Trading App, MT4, MT4 WebTrader |
| Deposit Options | Credit/debit cards, PayPal, International bank transfer, bank transfer |
| Withdrawal Options | International bank transfer, PayPal, credit/debit cards, bank transfer |
| Demo Account | Yes |
| Customer Support | 24/7 |
| Beginner-Friendly | Yes |
Should You Choose Axi? Quick Answer
Axi is an excellent broker for novices and MT4 enthusiasts. It’s cost-effective, easy to use, and has a wide variety of educational resources, including an online academy. The platform also supports copy trading, and its users have access to one of the most popular trading systems today, MT4.
What to Know about Axi Accounts
Axi has two broad account categories: live and demo. Live accounts allow traders to deposit real money and trade different financial instruments. On the other hand, demo accounts offer a simulated live trading environment where all types of traders can learn and practise trading risk-free. While in demo mode, you’ll have access to £50,000 in virtual money, 24/7 client support, and many other perks.
Live accounts come in different shapes and sizes on Axi. Here’s an overview of all available options and some of their most outstanding features. Note that Pro accounts have several eligibility requirements, including an investment portfolio exceeding £500,000 and at least a year of professional experience in the financial sector. Additionally, Elite has a £25,000 minimum deposit requirement.
| Account | Minimum Deposit | Commission & Spreads | Available Instruments | Recommended For |
|---|---|---|---|---|
| Standard | £5 | From 0.7 pips | Forex pairs, CFDs on metals, shares, and indices | Novices and low-volume traders |
| Pro | £5 | From 0.0 pips | Forex pairs, CFDs on indices, metals, crypto and shares | Experienced traders and scalpers |
| Elite | £25,000 | From 0.0 pips | FX pairs, CFDs on shares, indices, commodities, crypto | Professional and high-frequency traders |
Fees Review
One of the aspects that makes Axi an outstanding and trusted forex broker is transparency, where fees are involved. I’ve come across a plethora of service providers with a wide variety of hidden fees, and my experience was always disappointing and costly. Axi is transparent about every aspect, from minimum initial funding to spreads and commissions.
That said, to anyone who’d like to enjoy the lowest costs, I recommend the pro account option, which has no strict minimum deposit, free transactions, and tight spreads from 0.0 pips. Standard accounts have no strict initial funding requirement, but their spreads start at 0.7 pips. The table below will introduce you to what you need to know before opening an Axi account.
| Fee Category | Details |
|---|---|
| Minimum Deposit Requirement | £0 on Standard, £0 on Pro, £25,000 on Elite |
| Commission & Spreads | From 0.7 pips on Standard, From 0.0 pips + £7 round trip on Pro, From 0.0 pips + £3.50 round trip on Elite |
| Deposits & Withdrawals | Free deposits, No fee for withdrawals above £50; a £25 fee for withdrawals below £25 |
| Inactivity Fee | £10 monthly, kicks in after 12 consecutive months of inactivity |
Safety & Regulation
| Key Features | Broker Information |
|---|---|
| Regulation | Multi-jurisdiction (FCA, ASIC, DFSA, FSA, CySEC) |
| Investor Protection | Yes, up to £85,000 |
| Deposit Protection | Trader deposits are held in segregated bank accounts. Negative balance protection for retail clients |
| Securities Lending | Not Supported |
| History with Regulators | Good standing, very few issues, including fines |
I consider AxiTrader UK broker one of the safest for several noteworthy reasons. As mentioned earlier, the company is authorised and supervised by several regulatory bodies, including the FCA. Multi-regulation means the broker follows numerous stringent security standards and requirements. For instance, it keeps client and company funds in segregated accounts, as per FCA mandates.
While researching Axi’s reputation, I discovered that Axi has never reported any instances of successful hacking attempts. I came across several complaints of hacked accounts, but we can blame them on the service provider since they can be caused by issues associated with users, like weak passwords. Axi uses several solutions to optimise user safety and security, including data encryption and authentication.
Since segregated accounts are available, rest assured that Axi will never use your funds for unauthorised purposes, like funding operations. If the company goes out of business, you may receive compensation of up to £85,000 from the FSCS. You won’t find such perks in offshore accounts that are not authorised by the FCA or registered with the Financial Services Compensation Scheme.
Selection of Assets
When it comes to asset selection, Axi can do better. Having traded with many platforms that offer thousands of options to their users, I found this broker’s collection paltry and limited. That said, I was impressed by the available number and variety of FX pairs. If you decide to trade in forex with this broker, you’ll have 70+ assets at your disposal, from majors to minors and exotics.
Based on what’s offered here, I highly recommend this service provider to forex traders and newbies. If you specialise in trading currency pairs, the Axi forex trading platform has everything you need to succeed, from a considerable number of instruments to ultra-tight spreads. This service provider’s narrow focus on core markets also makes it ideal for newbies, who can be overwhelmed easily by larger numbers of instruments.
Note that, besides traditional financial instruments like forex pairs and share CFDs, Axi has crypto CFDs. Whether or not you can trade these assets depends on the type of trader you are. Trading cryptocurrency CFDs on Axi is strictly for professionals, as required by the Financial Conduct Authority. Check if you meet this broker’s requirements for professionals and gauge your understanding of how to do crypto trading before risking your money on these assets.
| Asset Class | Details |
|---|---|
| Forex | 70+ majors, minors, and exotics, including GBP/USD, USD/JPY, EUR/GBP, GBP/CAD, EUR/HUF, and USD/SEK. |
| Shares | CFDs on 100+ UK, European, and US stocks from companies like Aviva, HSBC, Vodafone, Alibaba, Amazon, Deutsche Bank, and Rolls-Royce Holdings. |
| Indices | CFDs on 30+ indices, including UK100, USTECH, GER40, AUS200, EU50, FRA40, and HK50. |
| Commodities | CFDs on popular commodities such as silver, oil, copper, and gold. |
| IPOs | CFDs on a wide variety of IPOs, like Discord, Kraken, Databricks, Revolut, and Virgin Atlantic. |
Account Setup
| Category | Specifications |
|---|---|
| Time to open an account | Less than an hour |
| Its me | Not supported |
| Mobile app | Available |
| Web app | Available |
| Ease of use | Very user-friendly |
| Children’s accounts | Not available |
| Joint accounts | Available |
| Business accounts | Available |
Before I started working on this Axi broker review, I registered with this broker and used my account to test what it offers. I can say without reservation that Axi has one of the most streamlined registration processes. Signing up and completing KYC took me less than 10 minutes. Here’s a breakdown of the steps involved:
Step 1: Visit the official Axi website
Step 2: Sign up
Step 3: Complete verification
Step 4: Deposit funds
Step 5: Trade
Everything begins on Axi’s official website, which you should access using the links I’ve shared in this comprehensive Axi trader review. Do not use links from any other sources because there are plenty of fake Axi websites out there. Cybercriminals have designed them to trick users into depositing money and sharing personal information. If you fall for one of these platforms, your money and data will be stolen.
Don’t be in a rush to register. As a first-timer, take time to explore what Axi offers, from trading platforms to financial assets. I also encourage reading and understanding the information included at the bottom of the official page before signing up.
Click “Open Account” to sign up on the official site or mobile app. Fill out the information required on the application form, i.e., first and last name, country of residence, phone number, and email address. You will need to verify every detail later, so everything you share should be valid and factual.
Axi will also ask you to specify your account preferences. While choosing the best account option, factor in crucial aspects like your experience, minimum deposit requirements, and spreads/commissions. If you get confused and have trouble taking your pick, start with the simplest option, Standard.
As an FCA-regulated broker, Axi must take new users through KYC verification to meet regulatory requirements. This process helps the broker detect and curb issues like money laundering. It also enhances the security of your funds as a trader by making it possible for the broker to prevent unauthorised personnel from accessing your account, personal details, and funds.
To complete verification, you’ll have to confirm your identity with an official document, like a copy of your national ID or passport. Axi will also ask you to submit a copy of a document that has your residential address, like a credit card statement or utility bill.
Wait for Axi to verify your account, then fund it. You can start with as little as £5 since this broker has no minimum initial funding requirement. You can either use a bank transfer, PayPal, or a credit/debit card. Note that cards have a £5 minimum deposit threshold, whereas PayPal’s lowest limit is £10. Also, PayPal and debit/credit cards support instant deposits, but funds sent via bank transfer can take 1-3 days.
If you deposit money and it fails to reach your account within the stipulated time period, contact Axi’s customer support as soon as possible. The broker has a responsive team, so expect your problem to be dealt with promptly.
After making your first deposit, you can start trading a wide variety of assets with one of the most powerful systems today, MetaTrader 4. If you are still unsure of your capabilities, start with the copy trading app while you practice in demo mode. The copy trading app will allow you to copy trades of top traders from different corners of the globe, including the UK.
Remember to protect your capital and mitigate risk while trading with Axi. Use every tool offered by this broker, including stop-loss and take-profit orders.
Educational Resources
As someone familiar with the value of education to both newbies and seasoned traders, I always evaluate every broker’s educational resources. Based on what I discovered while assessing what Axi has to offer, I was impressed by this broker’s learning materials and tools.
Axi has a free online academy, which is a crucial resource for you as a trader. It’s filled with comprehensive forex, gold, and shares trading courses. The provided courses cover a wide variety of essential lessons and topics. For instance, I explored the forex trading course curriculum and discovered materials related to vital topics like what forex is, understanding MT4, and FX trading psychology.
Additionally, Axi offers a library of cost-free, high-quality eBooks written by professional traders. They break down complicated topics and concepts into bite-sized information that can be understood even by newbies. Available options range from ‘7 Lessons for Understanding Forex Market Types’ to ‘13 Exclusive Pro Tips for Using Chart Setups’. MT4 video tutorials, in-depth trading articles, and a trading glossary are also in this broker’s educational toolkit.
| Feature | Available | Notes |
|---|---|---|
| Online Academy | Yes | Has courses on forex, gold, and shares trading |
| Copy Trading | Yes | Learn to trade by following and copying expert traders |
| Webinars | Yes | Get expert tips and increase your knowledge with Axi’s regular workshops and webinars |
| eBooks and Guides | Yes | Offers a wide variety of free eBooks and guides on crucial topics like using chart setups |
| Trading Glossary | Yes | Familiarise yourself with the most critical terms, from algorithmic trading to volatility index and wedge |
| Demo Account | Yes | Practice in demo mode for up to 30 days with £50,000 virtual cash |
Customer Support Services
If you have any questions or concerns, the first thing you should do is visit Axi’s FAQ page. The broker has addressed numerous pertinent issues here, from how to request a withdrawal and how long it can take to how to change leverage and recover a lost password. If you don’t find what you seek on this page, contact the company’s representatives.
Axi’s customer support team is available 24/7 in multiple languages, including English. I encourage getting in touch with its members via live chat whenever you have an urgent issue. I tested it and received rapid assistance. The best part is that I got the chance to talk to a human agent without having to first wrangle with a bot. Based on my experience, this company’s representatives are polite, knowledgeable, and direct – no riff-raff.
I also tested Axi’s email support option. The company’s team responded within a few hours with detailed questions and explanations. I suggest you use email when asking for guidance on matters that are not urgent. Finally, you can request a call-back if you prefer speaking to someone over the phone. I filled out the callback form, and an agent reached out in less than an hour.
Trading Platforms
Compared to other premier platforms I’ve come across over the years, Axi’s platform variety is quite limited. But that’s not inherently a bad thing. By focusing on a few options, this broker puts itself in the best position to provide streamlined trading experiences, primarily through MT4.
Let’s conclude our Axi review with a brief overview of the trading platforms you’ll have access to after signing up with Axi:
- Copy Trading App: If you’re a beginner or simply prefer to copy experts, you can leverage this platform. With it, you can take your trading skills to the next level, discover new opportunities, and maximise profitability.
- MT4: You can trade with MT4 on your PC or mobile phone courtesy of Axi. This is a powerful trading system that boasts a full suite of robust features, including one-click trading, tens of indicators, and live charts.
- MT4 WebTrader: A browser-based version of MT4 is also hosted on Axi. It allows you to trade with one of the most powerful trading systems in the world without downloading and installing any apps.
Final Expert Assessment
Based on what I discovered and experienced, Axi is a solid broker, but not for everyone. It’s ideal for beginners and novices who need a clean environment and a wide variety of learning resources to thrive. The broker’s excellent variety of currency pairs and ultra-low spreads also make it a perfect choice for seasoned forex traders.
That said, in my expert opinion, Axi is not the best choice for advanced and institutional traders who need a super-broad selection of assets and platforms. Remember that this platform has around 140 tradable instruments and a limited number of trading systems. Check out the summary below.
Axi is best for:
| Trader Profile | What Makes Axi a Fitting Broker |
|---|---|
| Beginners and Novices | Beginner-friendly interface, a wide variety of educational materials |
| Forex-Focused Traders | 70+ minor, major, and exotic forex pairs |
| Budget-Conscious Traders | £0 minimum deposit requirement, tight spreads from 0 pips |
| Copy Traders | Intuitive copy trading app with zero extra commissions on copied trades |
| MT4 Enthusiasts | Users can trade with MT4 on desktop, mobile, and web |
InvestingGuide Rating:
✔FCA-regulated broker
✔24/7 customer support
Visit site
Risk Warning
72.4% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how work and whether you can afford to take the high risk of losing your money.
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5
Customer Support
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5
Commissions & Fees
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5
Platforms & Tools
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5
Educational Resources